Gerresheimer Ag · XETR:GXI
Gerresheimer — Piper Jaffray Europe Conference 2008
17 slides from Gerresheimer's conference presentation, Jun 24, 2008
Slide 1: Gerresheimer – A leading partner for the pharma & life science industry
Gerresheimer – A leading partner for the pharma & life science industry Piper Jaffray Europe Conference London, June 24, 2008 Hans-Jürgen Wiecha, CFO 0
Slide 2: Investment summary: defensive growth stock
Investment summary: defensive growth stock Strong focus on pharma & life science industry with favorable growth drivers Leading market positions in attractive niche markets High barriers to entry due to regulatory environment Long-lasting relationships with blue-chip customers Proven M&A track recor
Slide 3: Gerresheimer at a glance
Gerresheimer at a glance Consolidated net sales FY 2007: 6957.7m Tubular Glass Plastic Systems Moulded Glass Life Science (Net sales/Adjusted EBITDA Research margin) 6271.2m / 24.6% 6299.7m / 18.7% 6318.8m / 20.4% 672.2m / 10.7% 2
Slide 4: Strategically focused. Globally active.
Strategically focused. Globally active. Sales by market segment Sales by region Germany 28 % Pharma & Life Science 72 % Europe (excl. Germany) 38 % Cosmetics 13 % The Americas 28 % Other 15 % China 2 % Other 4 % Consolidated net sales FY 2007: 6957.7m 3
Slide 5: Gerresheimer is a global player
Gerresheimer is a global player Region Plants Employees Europe 21 5.872 Americas 13 3.298 Asia 6 1.466 Total 40 10.636 Headquarters Tubular Glass Plastic Systems Moulded Glass Life Science Research 4
Slide 6: Key growth drivers for primary pharmaceutical packaging
Key growth drivers for primary pharmaceutical packaging Aging of world population Development of healthcare systems in emerging countries Growing number of acute and chronic diseases Accelerating pace in drug development Growth in biotech drugs and generics Outsourcing trend of drug delivery and pri
Slide 7: Leading market positions in attractive niche markets
Leading market positions in attractive niche markets Tubular Glass Plastic Systems Life Moulded Division (Injectable Glass (Plastic Drug Delivery Science and Systems) and Systems) Glass Research Inha- Diabetes OTC Liquids Glass Other Plastic Product Tubing Syringes Injectables Packaging lation Diagn
Slide 8: Gerresheimer is the only market player with broad competencies in glass and plastic
Gerresheimer is the only market player with broad competencies in glass and plastic Tubular Glass Life Science Division (Injectable Glass and Plastic Systems Moulded Glass (Plastic Drug Delivery and Systems) Research Systems) OTC liquids Other Diabetes Glass Glass Plastic Pharma and Syrups Product T
Slide 9: High barriers to entry support strong market positions
High barriers to entry support strong market positions Technological factors Start-up factors Regulatory environment (FDA & EMEA Proven track record is a prerequisite authorities, Pharmacopeia reference Initial investment requirements standards, GMP – Good Manufacturing Adoption of technological kno
Slide 10: Well-diversified blue-chip customer base
Well-diversified blue-chip customer base; selected customers include: Pharma/ life science Other Net sales to Top 50 customers (FY 2007) 6m Cumulative share of 2007 sales in % 301 60% 56% 51% 43% 31% 114 73 50 38 Top 10 11-20 21-30 31-40 41-50 Gerresheimer has close long-term relationships …with lim
Slide 11: Gerresheimer's strategy
Gerresheimer’s strategy Globalization Targeted investments Continuous productivity and Organic quality improvement growth Further capitalize on leading Pharma/ market positions life science Global market Extension of product leadership Growth offerings/technology positions through Extension of geogr
Slide 12: Success story of 2007 continues in Q1 2008
Success story of 2007 continues in Q1 2008 6m Q1 2008 Q1 2007 FY 2007 Net sales 239.1 202.3 +18.2% 957.7 Adjusted EBITDA1 43.0 35.7 +20.4% 181.6 Margin 18.0% 17.6% 19.0% Profit from operations 14.9 11.4 +30.7% 53.3 Net income 2.5 -4.0 >100% 0.8 Adjusted net income2 9.9 2.6 >100% 44.3 Adjusted earnin
Slide 13: Strong balance sheet and markedly enhanced cash flows set the stage for future growth
Strong balance sheet and markedly enhanced cash flows set the stage for future growth Q1 as of Q1 as of FY 2007 as of 6m Feb 29, 2008 Feb 28, 2007 Nov 30, 2007 Equity 505.8 -30.9 505.1 Equity ratio in % 34.2 n/a 35.0 Net working capital1 220.1 189.5 194.5 in % of LTM net sales 22.1 27.1 20.3 Net fin
Slide 14: Guidance FY 2008 (confirmed as of Q1)
Guidance FY 2008 (confirmed as of Q1) Growth of approx. 13 – 15%1 (at constant exchange rate 14-16%) Net Sales Mid 19% Adj. EBITDA margin Expected investments of D105m – D110m Capex Ongoing market observation for value-accretive M&A transactions Portfolio optimization 1 Exchange rate assumption for
Slide 15: Financial Calendar 2008 / 2009
Financial Calendar 2008 / 2009 July 15, 2008 Interim Report 2nd Quarter 2008 October 15, 2008 Interim Report 3rd Quarter 2008 October 23+24, 2008 Capital Markets Day 2008 February 17, 2009 Full Year Results 2008 14
Slide 16: Contact Details
Contact Details Investor Relations Phone: +49 211 6181 – 257 Fax: +49 211 6181 – 121 E-mail: investorrelations@gerresheimer.com Please visit our IR website: www.gerresheimer.com/ir 15
Slide 17: Disclaimer
Disclaimer This presentation may contain certain forward-looking statements, including assumptions, opinions and views of the Company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or